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An Approach To Risk Assesment in Construction Projects Using Emv Analysis

The document discusses an approach to risk assessment in construction projects using Expected Monetary Value (EMV) analysis, emphasizing the importance of structured risk management to avoid costly delays and litigations. It outlines the methodology for identifying, classifying, and quantifying risks, ultimately aiding project managers in making informed decisions regarding risk response strategies. EMV serves as a statistical tool to calculate average outcomes and assist in managing financial risks effectively.

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SIVA RAMA KRISHNAN chelladurai
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38 views5 pages

An Approach To Risk Assesment in Construction Projects Using Emv Analysis

The document discusses an approach to risk assessment in construction projects using Expected Monetary Value (EMV) analysis, emphasizing the importance of structured risk management to avoid costly delays and litigations. It outlines the methodology for identifying, classifying, and quantifying risks, ultimately aiding project managers in making informed decisions regarding risk response strategies. EMV serves as a statistical tool to calculate average outcomes and assist in managing financial risks effectively.

Uploaded by

SIVA RAMA KRISHNAN chelladurai
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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AN APPROACH TO RISK ASSESMENT IN

CONSTRUCTION PROJECTS USING EMV


ANALYSIS

Guided by Presented by
Mr. R.Shanmuga priyan RM.Ponmani deva
Assistant professor
INTRODUCTION
• Construction industry has a wide horizon, wide scope and
there is a need for successful risk management.
• Many construction projects fail to meet dead line and cost
target due to various inherent risks.
• Too often, risks are either ignored or are dealt in a
completely arbitrary way resulting in an expensive delays,
and litigations.
• Structured approach to risk management includes
identification of risks, their classification, analysis, deciding
upon risk response strategies and monitoring as well as
controlling of the implemented risk response strategies
EMV(Expected monetary value)

• Expected monetary value (EMV) is a statistical


technique in risk management that is used to quantity the risks,
which in turn assists the project manager to calculate the
contingency reserve.

• Expected monetary value analysis is a statistical concept that


calculates the average outcomes when the future includes the
scenarios that may or may not happen
.
• It helps in selecting the choice which involves less money to
manage the risks.
METHODOLOGY
Risk Assessment in construction
projects

Literature Review

Identification and classification of


risks in the project

Preparation of check list of risk in the


project

Qualitative analysis of risk

Quantification of risks

Calculations for Risk quantification


EMV analysis

Discussion and conclusion


THANK YOU

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